3. Learn to Budget the Right and Effective Way

And that you may. But unfortunately, you’re budget is ineffective. So it’s time for a new and improved budget.

Budgeting is one of those things where you have to be consistent or it will never work. For most of my clients, once they see the results of a budget that actually works, it is easy to remain consistent because they enjoy to seeing the consistent growth of their savings and/or debt decreasing.

And sometimes if you already budget, sometimes you don’t have to make huge changes, but it’s the subtle changes that make all the difference such as budgeting weekly versus monthly.

You can find everything you need to know to do it yourself in the links below.

So you have to look at your money the same way. Ask yourself “Am I handling my finances in a way that it adds value to my life?”

Your spending habits run deep and they usually reflect your upbringing. So sometimes it’s not as simple as just not going to the store.

First, you need to pinpoint what kind of spending habit you have. So spend some time journaling everything that you spend money on and maybe even the emotions you are feeling. Emotions often trigger things like some people eat when they are stressed.

7. Put together a Debt Plan

Make sure you know how much debt you have and how much you can afford to pay.

This is why it is so important to have a budget in place so you understand how much you can apply towards debt.

Now you can make a plan of attack.

People typically have one of two ways in which they attack their debt.

The first one is by balance. People who want to see quick progress usually choose this one because it allows you to pay off the smaller balances first. This seems to motivate people who like to see they are no longer paying a specific debt and can quickly push that money onto another debt.

Second is by interest. This will allow you to save money in the long run although it will take longer to pay off your debt. Paying off the higher interest rates will allow you to optimize your payments as much as possible.

With a plan in place and knowing how much you will be able to put towards the debt, now all you have to do is make the payments.

7. Don’t Create More Debt

Do you know at one point in time I had paid off all my credit card debt, to only get tempted and mess things up all over again?

Crazy thing is, this time I was in more debt than last time.

Once your credit cards are paid off, I would close all but one.

8. Stay Motivated and Inspired to Pay Off Your Debt Fast

You may have begun this post with a lot of doubt but I hope you have been able to build up faith in yourself that you can, in fact, DO IT!

Believe in yourself and your God-given abilities. You now know that you HAVE to make a change.

If you have a hard time staying motivated, find an accountability partner who also needs to pay off their debt. Create challenges together to keep it fun and engaging before you know it you will be doing your debt free scream!!

Understand Nothing is Perfect

Paying off debt is similar to dieting. You need to stay consistent with how you are eating and exercising but there can be a time where you fall short.

That’s ok.

How you handle your shortcomings is important. Some people give up and go back to how they were and other get up dust their shoulders off and continue on like nothing has ever happened.

Whatever you do DON’T GIVE UP!

Ecclesiastes 9:11 “The race is not given to the swift nor to the strong, but to those that endureth to the end.”

So endure!!!

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